Tether is in talks to invest in gold mining, currently holding gold reserves worth $8.7 billion

ChainCatcher news, according to the Financial Times, Tether is in talks to invest in gold mining. The company plans to invest in various segments of the gold supply chain, including mining, refining, trading, and royalty companies. Currently, Tether holds $8.7 billion in gold reserves in a vault in Zurich, Switzerland, as collateral for its stablecoin. In June of this year, Tether Investments spent $105 million to acquire a minority stake in the Toronto-listed gold royalty company Elemental Altus. Tether CEO Paolo Ardoino previously stated that gold should be a safer asset than any sovereign currency and can serve as a complement to Bitcoin.